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Reading: BHP faces $47 billion UK lawsuit over Brazilian dam collapse By Reuters
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BHP faces  billion UK lawsuit over Brazilian dam collapse By Reuters
The Tycoon Herald > Business > BHP faces $47 billion UK lawsuit over Brazilian dam collapse By Reuters
Business

BHP faces $47 billion UK lawsuit over Brazilian dam collapse By Reuters

Tycoon Herald
By Tycoon Herald 3 Min Read Published October 21, 2024
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By Sam Tobin

LONDON (Reuters) – A listening to in a lawsuit towards BHP over Brazil’s worst environmental catastrophe, the 2015 collapse of the Mariana dam, will start at London’s Excessive Court docket on Monday, with claimants in search of as much as 36 billion kilos ($47 billion) in damages.

Greater than 600,000 Brazilians, 46 native governments, and round 2,000 companies are suing BHP over the collapse of the dam in southeastern Brazil, which was owned and operated by BHP and Vale’s Samarco three way partnership.

The collapse of the dam, which held mining waste referred to as tailings, unleashed a poisonous wave that killed 19 individuals, left 1000’s homeless, flooded forests, and polluted the size of the Doce River – which is taken into account to be sacred by the Krenak indigenous tribe.

BHP, the world’s greatest miner by market worth, is contesting legal responsibility and says the London lawsuit, one of many largest in English authorized historical past, duplicates authorized proceedings and reparation and restore programmes in Brazil.

It says almost $8 billion has already been paid to these affected by the catastrophe by way of the Renova Basis, which was established in 2016.

The Brazilian authorities is discussing a virtually $30 billion compensation cope with BHP, Vale and Samarco, the miners mentioned on Friday.

Pogust Goodhead, the regulation agency representing the claimants, mentioned in a press release the English lawsuit is “the only way to truly hold BHP accountable”.

“The English claim has pushed BHP into finally accepting they needed to do more in Brazil but this proposed deal only goes half way at best,” Pogust Goodhead CEO Tom Goodhead mentioned.

BHP mentioned in a press release that it’s “working collectively with the Brazilian authorities and others to seek solutions to finalise a fair and comprehensive compensation and rehabilitation process”.

The London Excessive Court docket listening to will last as long as 12 weeks and can contemplate whether or not BHP is liable to the claimants below Brazilian environmental regulation.

It should additionally contemplate whether or not the Brazilian municipalities concerned within the case are permitted to convey authorized motion and the affect of any agreements reached with BHP by claimants concerned within the English lawsuit.

BHP faces  billion UK lawsuit over Brazilian dam collapse By Reuters

The go well with has had a convoluted path in the direction of trial: it was thrown out in 2020 earlier than the Court docket of Enchantment dominated it might proceed.

BHP and Vale additionally briefly fought within the English courts over their potential legal responsibility, earlier than reaching an settlement in July to separate the invoice for any damages that could be awarded.

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